Vault-13

ISHARES TR EFA

MSCI EAFE ETF · ETP · CUSIP 464287465

1,857 institutional holders +0 vs Q1 2024
592,495,694592.5m shares reported held*
$46.5bnreported value*
99 new 654 added 709 reduced 98 sold out net sold ≈ $4.1bn (-51.3m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($82.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $78.42. Options: 32 managers hold calls ($5.3bn notional), 45 hold puts ($8.4bn).

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,591Q4 22: 1,703Q1 23: 1,728Q2 23: 1,786Q3 23: 1,753Q4 23: 1,868Q1 24: 1,857Q2 24: 1,8571,857Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 20221,591
Q4 20221,703
Q1 20231,728
Q2 20231,786
Q3 20231,753
Q4 20231,868
Q1 20241,857
Q2 20241,857

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1k01kQ4 22: 705 bought or addedQ4 22: 780 cut or sold outQ4 22Q1 23: 610 bought or addedQ1 23: 842 cut or sold outQ2 23: 752 bought or addedQ2 23: 764 cut or sold outQ2 23Q3 23: 614 bought or addedQ3 23: 819 cut or sold outQ4 23: 771 bought or addedQ4 23: 762 cut or sold outQ4 23Q1 24: 584 bought or addedQ1 24: 935 cut or sold outQ2 24: 753 bought or addedQ2 24: 807 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 2022705780
Q1 2023610842
Q2 2023752764
Q3 2023614819
Q4 2023771762
Q1 2024584935
Q2 2024753807

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2.5bn$5bn$7.5bn$10bnQ3 23 calls: $4.1bnQ3 23 puts: $6.5bnQ3 23P/C 1.58Q4 23 calls: $5.9bnQ4 23 puts: $7.4bnQ4 23P/C 1.25Q1 24 calls: $5.3bnQ1 24 puts: $9.2bnQ1 24P/C 1.72Q2 24 calls: $5.3bnQ2 24 puts: $8.4bnQ2 24P/C 1.56
Numbers
QuarterCallsPutsP/C
Q3 2023$4.1bn$6.5bn1.58
Q4 2023$5.9bn$7.4bn1.25
Q1 2024$5.3bn$9.2bn1.72
Q2 2024$5.3bn$8.4bn1.56

Biggest buyers

BlackRock Inc. Added +4,326,944+4.3m
Board of Trustees of The Leland Stanford Junior University New +3,217,267+3.2m
ENVESTNET ASSET MANAGEMENT INC Added +2,179,857+2.2m
BNP PARIBAS FINANCIAL MARKETS Added +1,755,069+1.8m
NATIXIS ADVISORS, LLC Added +1,711,236+1.7m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +1,657,971+1.7m
Squarepoint Ops LLC Added +1,469,234+1.5m
TD Asset Management Inc Added +1,377,019+1.4m
GOLDMAN SACHS GROUP INC Added +1,307,223+1.3m
CAPTRUST FINANCIAL ADVISORS New +1,290,258+1.3m

Biggest sellers

MORGAN STANLEY Reduced -58,057,158-58.1m
JPMORGAN CHASE & CO Reduced -6,462,296-6.5m
CITIGROUP INC Reduced -3,949,095-3.9m
JONES FINANCIAL COMPANIES LLLP Reduced -3,562,427-3.6m
Cerity Partners LLC Sold out -1,426,019-1.4m
BANK OF NOVA SCOTIA Reduced -1,201,183-1.2m
Qube Research & Technologies Ltd Sold out -1,002,652-1.0m
JANE STREET GROUP, LLC Reduced -994,478-994.5k
Laurion Capital Management LP Sold out -828,849-828.8k
ARVEST TRUST CO N A Reduced -727,478-727.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $954.0m12.2m shares
Squarepoint Ops LLC Reduced $892.0m11.4m shares
CITADEL ADVISORS LLC Added $541.4m6.9m shares
GOLDMAN SACHS GROUP INC Reduced $454.2m5.8m shares
BARCLAYS PLC Added $403.4m5.1m shares
UBS Group AG Reduced $379.3m4.8m shares
BANK OF AMERICA CORP /DE/ Added $353.9m4.5m shares
CITIGROUP INC Added $289.3m3.7m shares
MILLENNIUM MANAGEMENT LLC Reduced $188.3m2.4m shares
BNP PARIBAS FINANCIAL MARKETS Added $154.5m19.7k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.6bn20.0m shares
Squarepoint Ops LLC Added $1.2bn15.1m shares
GOLDMAN SACHS GROUP INC Added $945.7m12.1m shares
CITIGROUP INC Reduced $686.7m8.8m shares
MILLENNIUM MANAGEMENT LLC Added $584.3m7.5m shares
Allianz Asset Management GmbH Reduced $539.1m6.9m shares
CITADEL ADVISORS LLC Reduced $500.3m6.4m shares
UBS Group AG Added $472.0m6.0m shares
BANK OF AMERICA CORP /DE/ Reduced $432.6m5.5m shares
WELLS FARGO & COMPANY/MN Reduced $345.2m4.4m shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
BlackRock Portfolio Management LLC 13G · institution -1.2 pts · filed 2026-07-17 11.8% -1.2 pts 88.0m≈ $9.1bn 2026-07-17

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock Inc. 0.19% of their portfolio New York, NY 107,406,852107.4m $8.4bn $8.4bn 0.19% Added +4.3m +4,326,944
2 JPMORGAN CHASE & CO 0.16% of their portfolio NEW YORK, NY 48,418,38048.4m $3.8bn $3.8bn 0.16% Reduced -6.5m -6,462,296
3 BANK OF AMERICA CORP /DE/ 0.27% of their portfolio CHARLOTTE, NC 36,484,98036.5m $2.9bn $2.9bn 0.27% Added +676.7k +676,739
4 GOLDMAN SACHS GROUP INC 0.51% of their portfolio NEW YORK, NY 33,043,00833.0m $2.6bn $2.6bn 0.51% Added +1.3m +1,307,223
5 MORGAN STANLEY 0.15% of their portfolio NEW YORK, NY 25,073,94025.1m $2.0bn $2.0bn 0.15% Reduced -58.1m -58,057,158
6 NORTHERN TRUST CORP 0.28% of their portfolio CHICAGO, IL 21,084,69421.1m $1.7bn $1.7bn 0.28% Reduced -59.7k -59,702
7 WELLS FARGO & COMPANY/MN 0.29% of their portfolio SAN FRANCISCO, CA 14,225,30314.2m $1.1bn $1.1bn 0.29% Reduced -236.6k -236,616
8 JANE STREET GROUP, LLC 1.03% of their portfolio NEW YORK, NY 12,127,09812.1m $949.9m $949.9m 1.03% Reduced -994.5k -994,478
9 UBS Group AG 0.26% of their portfolio ZURICH, V8 10,883,94610.9m $852.5m $852.5m 0.26% Reduced -34.4k -34,423
10 FMR LLC 0.05% of their portfolio BOSTON, MA 9,791,1709.8m $766.9m $766.9m 0.05% Reduced -165.1k -165,085
11 PNC Financial Services Group, Inc. 0.49% of their portfolio Pittsburgh, PA 9,348,5849.3m $732.3m $732.3m 0.49% Reduced -360.9k -360,912
12 ENVESTNET ASSET MANAGEMENT INC 0.24% of their portfolio Berwyn, PA 8,765,4558.8m $686.6m $686.6m 0.24% Added +2.2m +2,179,857
13 US BANCORP \DE\ 0.81% of their portfolio MINNEAPOLIS, MN 7,542,5757.5m $590.8m $590.8m 0.81% Added +10.5k +10,540
14 Bank of New York Mellon Corp 0.11% of their portfolio NEW YORK, NY 7,346,8217.3m $575.5m $575.5m 0.11% Reduced -74.1k -74,126
15 ROYAL BANK OF CANADA 0.13% of their portfolio TORONTO, A6 6,804,1806.8m $533.0m $533.0m 0.13% Reduced -163.2k -163,153
16 AlTi Global, Inc. 14.00% of their portfolio NEW YORK, NY 6,655,2776.7m $521.3m $521.3m 14.00% Added +517.3k +517,329
17 TD Asset Management Inc 0.43% of their portfolio Toronto, A6 5,825,1555.8m $456.3m $456.3m 0.43% Added +1.4m +1,377,019
18 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.75% of their portfolio BALA CYNWYD, PA 5,529,8615.5m $433.2m $433.2m 0.75% Added +1.7m +1,657,971
19 JONES FINANCIAL COMPANIES LLLP 0.48% of their portfolio DES PERES, MO 5,320,4795.3m $416.8m $416.8m 0.48% Reduced -3.6m -3,562,427
20 NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC 9.74% of their portfolio MILWAUKEE, WI 4,804,4964.8m $376.3m $376.3m 9.74% Added +404.6k +404,590
21 BANK OF MONTREAL /CAN/ 0.09% of their portfolio TORONTO, A6 3,716,4373.7m $298.4m $298.4m 0.09% Added +63.0k +63,048
22 LPL Financial LLC 0.14% of their portfolio FORT MILL, SC 3,672,6703.7m $287.7m $287.7m 0.14% Added +391.2k +391,198
23 TRUIST FINANCIAL CORP 0.41% of their portfolio CHARLOTTE, NC 3,405,0063.4m $266.7m $266.7m 0.41% Reduced -1.6k -1,608
24 Board of Trustees of The Leland Stanford Junior University 17.12% of their portfolio STANFORD, CA 3,217,2673.2m $252.0m $252.0m 17.12% New
25 BNP PARIBAS FINANCIAL MARKETS 0.26% of their portfolio PARIS, I0 3,070,2893.1m $240.5m $240.5m 0.26% Added +1.8m +1,755,069
26 Mariner, LLC 0.45% of their portfolio Overland Park, KS 2,989,6033.0m $234.2m $234.2m 0.45% Reduced -85.7k -85,705
27 Stairway Partners, LLC 17.97% of their portfolio MINNEAPOLIS, MN 2,920,1872.9m $228.7m $228.7m 17.97% Added +54.9k +54,895
28 CIBC Asset Management Inc 0.75% of their portfolio TORONTO, Z4 2,708,0092.7m $212.1m $212.1m 0.75% Added +67.8k +67,824
29 Sand Hill Global Advisors, LLC 9.58% of their portfolio Palo Alto, CA 2,691,8962.7m $210.9m $210.9m 9.58% Reduced -15.6k -15,576
30 REGIONS FINANCIAL CORP 1.51% of their portfolio BIRMINGHAM, AL 2,531,1822.5m $198.3m $198.3m 1.51% Reduced -15.8k -15,847
31 Squarepoint Ops LLC 0.67% of their portfolio NEW YORK, NY 2,286,4832.3m $179.1m $179.1m 0.67% Added +1.5m +1,469,234
32 Badgley Phelps Wealth Managers, LLC 4.41% of their portfolio SEATTLE, WA 2,272,8682.3m $178.0m $178.0m 4.41% Reduced -5.8k -5,795
33 AMERIPRISE FINANCIAL INC 0.05% of their portfolio MINNEAPOLIS, MN 2,270,6762.3m $177.8m $177.8m 0.05% Added +355.8k +355,785
34 Hirtle & Co., LLC 7.11% of their portfolio WEST CONSHOHOCKEN, PA 2,105,9832.1m $165.0m $165.0m 7.11% Reduced -15.0k -15,020
35 Creative Planning 0.17% of their portfolio OVERLAND PARK, KS 2,074,7972.1m $162.5m $162.5m 0.17% Reduced -27.3k -27,326
36 M&T Bank Corp 0.55% of their portfolio BUFFALO, NY 2,058,0342.1m $161.2m $161.2m 0.55% Reduced -27.1k -27,071
37 MACKENZIE FINANCIAL CORP 0.24% of their portfolio TORONTO ONTARIO, A6 2,025,6192.0m $158.7m $158.7m 0.24% Reduced -119.6k -119,594
38 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.16% of their portfolio MILWAUKEE, WI 2,014,3382.0m $157.8m $157.8m 0.16% Added +147.1k +147,144
39 PRUDENTIAL FINANCIAL INC 0.23% of their portfolio NEWARK, NJ 1,989,0292.0m $155.8m $155.8m 0.23% Reduced -39.0k -38,955
40 NATIXIS ADVISORS, LLC 0.33% of their portfolio Boston, MA 1,935,0111.9m $151.6m $151.6m 0.33% Added +1.7m +1,711,236
41 STIFEL FINANCIAL CORP 0.17% of their portfolio ST. LOUIS, MO 1,880,4341.9m $147.3m $147.3m 0.17% Reduced -76.1k -76,135
42 Corient Private Wealth LP 0.25% of their portfolio MIAMI, FL 1,845,6991.8m $144.6m $144.6m 0.25% Reduced -4.4k -4,393
43 Rockefeller Capital Management L.P. 0.40% of their portfolio NEW YORK, NY 1,791,4201.8m $140.3m $140.3m 0.40% Reduced -58.2k -58,225
44 KEYBANK NATIONAL ASSOCIATION/OH 0.55% of their portfolio BROOKLYN, OH 1,723,5541.7m $135.0m $135.0m 0.55% Reduced -64.0k -63,977
45 COMERICA BANK 0.56% of their portfolio DALLAS, TX 1,703,9761.7m $133.5m $133.5m 0.56% Reduced -21.5k -21,505
46 HSBC HOLDINGS PLC 0.08% of their portfolio LONDON, X0 1,676,9071.7m $131.1m $131.1m 0.08% Reduced -576.3k -576,290
47 Financial Engines Advisors L.L.C. 0.29% of their portfolio SANTA CLARA, CA 1,656,8651.7m $129.8m $129.8m 0.29% Reduced -10.4k -10,411
48 FIFTH THIRD BANCORP 0.49% of their portfolio CINCINNATI, OH 1,641,8951.6m $128.6m $128.6m 0.49% Reduced -68.6k -68,554
49 HALBERT HARGROVE GLOBAL ADVISORS, LLC 6.88% of their portfolio LONG BEACH, CA 1,496,7681.5m $117.2m $117.2m 6.88% Added +16.7k +16,746
50 HighTower Advisors, LLC 0.18% of their portfolio CHICAGO, IL 1,485,8711.5m $116.4m $116.4m 0.18% Added +18.9k +18,914
51 Cullen/Frost Bankers, Inc. 1.68% of their portfolio San Antonio, TX 1,481,0681.5m $116.0m $116.0m 1.68% Reduced -4.3k -4,317
52 Raymond James Financial Services Advisors, Inc. 0.16% of their portfolio ST. PETERSBURG, FL 1,462,2121.5m $114.5m $114.5m 0.16% Added +91.9k +91,919
53 ARVEST TRUST CO N A 6.76% of their portfolio ROGERS, AR 1,451,8231.5m $113.7m $113.7m 6.76% Reduced -727.5k -727,478
54 TORONTO DOMINION BANK 0.17% of their portfolio TORONTO, ONTARIO, A6 1,352,1431.4m $105.9m $105.9m 0.17% Added +706.6k +706,558
55 RAYMOND JAMES & ASSOCIATES 0.07% of their portfolio ST PETERSBURG, FL 1,329,5181.3m $104.1m $104.1m 0.07% Added +39.0k +39,031
56 Baird Financial Group, Inc. 0.21% of their portfolio MILWAUKEE, WI 1,313,2721.3m $102.9m $102.9m 0.21% Reduced -38.5k -38,461
57 CAPTRUST FINANCIAL ADVISORS 0.33% of their portfolio RALEIGH, NC 1,290,2581.3m $101.1m $101.1m 0.33% New
58 BAILARD, INC. 2.75% of their portfolio Foster City, CA 1,273,7321.3m $99.8m $99.8m 2.75% Reduced -10.4k -10,367
59 CIBC Private Wealth Group LLC 0.18% of their portfolio ATLANTA, GA 1,180,1131.2m $94.0m $94.0m 0.18% Reduced -16.1k -16,122
60 COMMONWEALTH EQUITY SERVICES, LLC 0.14% of their portfolio WALTHAM, MA 1,156,2031.2m $90.6m $90.6m 0.14% Added +30.1k +30,063
61 Linscomb Wealth, Inc. 4.49% of their portfolio Houston, TX 1,106,5681.1m $86.7m $86.7m 4.49% Reduced -24.5k -24,497
62 HUNTINGTON NATIONAL BANK 0.66% of their portfolio COLUMBUS, OH 1,083,9731.1m $84.9m $84.9m 0.66% Reduced -5.1k -5,075
63 BARCLAYS PLC 0.04% of their portfolio LONDON, X0 1,019,8741.0m $79.9m $79.9m 0.04% Added +419.2k +419,188
64 Cetera Investment Advisers 0.18% of their portfolio SCHAUMBURG, IL 975,219975.2k $76.4m $76.4m 0.18% Added +216.4k +216,428
65 GLENMEDE TRUST CO NA 0.39% of their portfolio PHILADELPHIA, PA 970,302970.3k $76.0m $76.0m 0.39% Reduced -2.5k -2,491
66 Focus Partners Wealth 0.25% of their portfolio ST LOUIS, MO 958,684958.7k $75.1m $75.1m 0.25% Added +486.6k +486,633
67 BOKF, NA 1.34% of their portfolio TULSA, OK 953,233953.2k $74.7m $74.7m 1.34% Reduced -167.4k -167,425
68 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.17% of their portfolio PLYMOUTH, MN 902,417902.4k $70.7m $70.7m 0.17% Added +9.7k +9,706
69 MERCER GLOBAL ADVISORS INC /ADV 0.19% of their portfolio DENVER, CO 894,142894.1k $68.3m $68.3m 0.19% Reduced -10.3k -10,298
70 Accredited Investors Inc. 4.29% of their portfolio EDINA, MN 878,296878.3k $68.8m $68.8m 4.29% Reduced -33.7k -33,715
71 Pathstone Holdings, LLC 0.30% of their portfolio ENGLEWOOD, NJ 860,001860.0k $67.4m $67.4m 0.30% Added +89.1k +89,147
72 Ensign Peak Advisors, Inc 0.12% of their portfolio SALT LAKE CITY, UT 857,603857.6k $67.2m $67.2m 0.12% Reduced -502 -502
73 MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 855,139855.1k $67.0m $67.0m 0.06% Added +729.9k +729,917
74 AMG National Trust Bank 1.80% of their portfolio GREENWOOD VILLAGE, CO 847,105847.1k $66.4m $66.4m 1.80% Added +54.2k +54,167
75 Janney Montgomery Scott LLC 0.20% of their portfolio PHILADELPHIA, PA 839,792839.8k $65.8m $65.8m 0.20% Added +9.5k +9,529
76 BLAIR WILLIAM & CO/IL 0.20% of their portfolio CHICAGO, IL 832,274832.3k $65.2m $65.2m 0.20% Reduced -6.5k -6,510
77 Miller Investment Management, LP 7.74% of their portfolio WEST CONSHOHOCKEN, PA 827,506827.5k $64.8m $64.8m 7.74% Added +57.8k +57,830
78 Allspring Global Investments Holdings, LLC 0.10% of their portfolio CHARLOTTE, NC 806,582806.6k $63.2m $63.2m 0.10% Reduced -85.8k -85,760
79 WoodTrust Financial Corp 9.77% of their portfolio WISCONSIN RAPIDS, WI 802,488802.5k $62.9m $62.9m 9.77% New
80 Capital International Investors 0.01% of their portfolio Los Angeles, CA 799,107799.1k $62.5m $62.5m 0.01% Added +424.9k +424,861
81 Hackensack Meridian Health, Inc. 7.96% of their portfolio EDISON, NJ 761,932761.9k $59.7m $59.7m 7.96% Unchanged
82 Cresset Asset Management, LLC 0.25% of their portfolio Chicago, IL 747,308747.3k $58.5m $58.5m 0.25% Added +62.6k +62,642
83 BROWN ADVISORY INC 0.08% of their portfolio BALTIMORE, MD 743,041743.0k $58.2m $58.2m 0.08% Added +26.3k +26,297
84 Valmark Advisers, Inc. 0.99% of their portfolio AKRON, OH 740,980741.0k $58.0m $58.0m 0.99% Reduced -4.7k -4,749
85 Annis Gardner Whiting Capital Advisors, LLC 16.18% of their portfolio TAMPA, FL 726,829726.8k $56.9m $56.9m 16.18% Added +110.8k +110,754
86 STOCK YARDS BANK & TRUST CO 1.82% of their portfolio LOUISVILLE, KY 702,526702.5k $55.0m $55.0m 1.82% Added +35.1k +35,145
87 MassMutual Private Wealth & Trust, FSB 1.66% of their portfolio Windsor, CT 696,683696.7k $54.6m $54.6m 1.66% Reduced -76.5k -76,525
88 OSAIC HOLDINGS, INC. 0.13% of their portfolio SCOTTSDALE, AZ 695,997696.0k $54.5m $54.5m 0.13% Reduced -53.9k -53,916
89 MML INVESTORS SERVICES, LLC 0.22% of their portfolio SPRINGFIELD, MA 694,669694.7k $54.4m $54.4m 0.22% Added +14.6k +14,633
90 Valeo Financial Advisors, LLC 1.68% of their portfolio CARMEL, IN 686,009686.0k $53.9m $53.9m 1.68% Reduced -29.0k -29,015
91 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 683,300683.3k $53.5m $53.5m 0.02% Reduced -33.1k -33,096
92 MainStreet Investment Advisors LLC 6.48% of their portfolio CHICAGO, IL 676,302676.3k $53.0m $53.0m 6.48% Reduced -115.8k -115,794
93 DEUTSCHE BANK AG\ 0.02% of their portfolio FRANKFURT AM MAIN, 2M 661,128661.1k $51.8m $51.8m 0.02% Reduced -10.2k -10,246
94 HANCOCK WHITNEY CORP 1.76% of their portfolio GULFPORT, MS 661,081661.1k $51.8m $51.8m 1.76% Reduced -8.2k -8,196
95 CIBC WORLD MARKET INC. 0.12% of their portfolio TORONTO, A6 640,585640.6k $50.2m $50.2m 0.12% Added +113.6k +113,621
96 BECKER CAPITAL MANAGEMENT INC 1.71% of their portfolio Portland, OR 635,782635.8k $49.8m $49.8m 1.71% Added +16.0k +16,014
97 LAZARD ASSET MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 635,252635.3k $49.8m $49.8m 0.06% Added +280.5k +280,510
98 BONTEMPO OHLY CAPITAL MGMT LLC 24.59% of their portfolio BETHESDA, MD 627,840627.8k $49.2m $49.2m 24.59% Added +984 +984
99 CW Advisors, LLC 0.78% of their portfolio BOSTON, MA 624,959625.0k $49.0m $49.0m 0.78% Added +21.2k +21,185
100 First Horizon Advisors, Inc. 1.48% of their portfolio MEMPHIS, TN 619,699619.7k $48.5m $48.5m 1.48% Reduced -2.9k -2,888